What Is "Supercore Inflation?" - Ripped From The Headlines, April 11, 2024
"Supercore Inflation" Problems In The US Economy, Credit Card Debt Hits New High, Why Are Gold Bar Sales Surging At Costco? Read, Share, & Subscribe - SherlocExposes.com
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“A hotter-than-expected consumer price index report rattled Wall Street Wednesday, but markets are buzzing about an even more specific prices gauge contained within the data — the so-called supercore inflation reading.
Along with the overall inflation measure, economists also look at the core CPI, which excludes volatile food and energy prices, to find the true trend. The supercore gauge, which also excludes shelter and rent costs from its services reading, takes it even a step further. Fed officials say it is useful in the current climate as they see elevated housing inflation as a temporary problem and not as good a measure of underlying prices.
Supercore accelerated to a 4.8% pace year over year in March, the highest in 11 months.
Tom Fitzpatrick, managing director of global market insights at R.J. O’Brien & Associates, said if you take the readings of the last three months and annualize them, you’re looking at a supercore inflation rate of more than 8%, far from the Federal Reserve’s 2% goal.
‘As we sit here today, I think they’re probably pulling their hair out,’ Fitzpatrick said.
‘At the end of the day, they don’t really care as long as they get to 2%, but the reality is you’re not going to get to a sustained 2% if you don’t get a key cooling in services prices, [and] at this point we’re not seeing it,’ said Stephen Stanley, chief economist at Santander U.S.”
THINGS TO PONDER:
This news is no surprise to regular Ripped From The Headlines readers, and now the average person is starting to figure out things are WAY worse than they have been led to believe…
Once you get a good look at all of the numbers, you see that being able to afford anything - food, cars, housing - is becoming impossible.
And that is only going to intensify.
As we’ve continued to recommend, start making common sense common practice. If you’re buying food today, you’re locking in your value at what may be the lowest rate for a long time. Get tangibles, invest in common sense things that people need, and think ahead.
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“US credit-card delinquency rates were the highest on record in the fourth quarter, according to a Federal Reserve Bank of Philadelphia report.
Almost 3.5% of card balances were at least 30 days past due as of the end of December, the Philadelphia Fed said. That’s the highest figure in the data series going back to 2012, and up by about 30 basis points from the previous quarter. The share of debts that are 60 and 90 days late also climbed.
‘Stress among cardholders was further underscored in payment behavior, as the share of accounts making minimum payments rose 34 basis points to a series high,’ according to the report.
Nominal credit card balances set a new series high and card utilization also rose, as consumers stretched credit lines further. Inflation-adjusted credit card balances remained below fourth-quarter 2019 levels.
The numbers signal added pressure on US household finances amid higher costs of living. About 10% of credit-card borrowers now have an account balance that exceeds $5,200, according to the Philadelphia Fed. One-quarter of active accounts have a balance of over $2,000 for the first time.
THINGS TO PONDER:
The question we’ve been asking remains relevant:
If everything is so good, why are credit card debt and delinquency at record levels?
“Welcome… to the desert of the REAL.” - The Matrix.
If you’re not stocking up on basic critical supplies, now’s a great time to be in a hurry…
Think about it like this: The way things are going, everything you buy now you’re picking up at a BIG discount…
For now.
You may see things teeter between “kind of bad” and “yikes” in the coming months, but make no mistake that it’s not going to be a fun ride if you’re living “just in time” on food or essentials.
You may also want to explore the ability to invest in those key essentials… Just sayin’.
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“Alongside its $1.50 hot dog and soda combo, gallon tubs of mayonnaise and value packs of socks, Costco, the warehouse retailer, has been selling gold bars since October.
Now, retail analysts say Costco is selling up to $200 million worth of gold and silver each month, according to an analysis from Wells Fargo.
Online forums and Reddit threads have cropped up where customers give each other advice on how to purchase the bars before they sell out.
‘I’ve gotten a couple of calls that people have seen online that we’ve been selling one-ounce gold bars, yes, but when we load them on the site, they’re typically gone within a few hours,’ Richard Galanti, executive vice president and chief financial officer, said in an earnings call in September.
Buying gold becomes more common in times of economic turmoil. Although the U.S. economic outlook has improved and inflation has slowed, it remains higher than the targets from the Federal Reserve, said Sadiq S. Adatia, the chief investment officer for BMO Global Asset Management. And on Wednesday, a key inflation rate was revealed to be stronger than expected.
Geopolitical concerns could also be a factor in an increasing interest in gold, Mr. Adatia said. There has been more interest in gold since Ukraine’s currency collapsed after Russia’s invasion, he said.
For those looking to purchase gold for the first time, Costco provides familiarity and ease, Mr. Adatia said.
‘They make it convenient,’ he said. ‘People can physically go in and pick it up and that’s it, versus opening up an account and buying gold shares.’
THINGS TO PONDER:
Everything that’s in bold in the story tells you the story. People are freaked out, so they retreat to things that hold value.
What’s really scary is what’s at the end of the story:
The Commodity Futures Trade Commission has urged caution when buying gold because precious metals can be highly volatile.
“Like other commodities, precious metal prices rise as demand goes up, so when economic anxiety or instability is high, the people who typically profit from precious metals are the sellers,” the agency wrote in a statement.
The commission likely puts that warning out to signal that it’s not a guaranteed investment, Larry Tentarelli, chief technical strategist for Blue Chip Daily Trend Report, said. He recommends the average person invest 3 to 5 percent of their assets in gold.
So the people who’ve created the mess are warning you to “watch your investment” in the thing that helps you to survive the mess that they’ve created…
Let that sink in for a minute.
The deck is stacked against you in a way that’s difficult to understand with conventional wisdom… you’ll need to change the way that you look at things in order to see the freight train that’s coming… this newsletter is a great place to so that.
Brace For Impact.
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James Wesley, Rawles, publisher of SurvivalBlog.com has put together a “bookshelf” list of key things you should have. CLICK HERE to access the list.
Plus a recap of the 50 things you should have handy to barter.
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